IHOP, an American international pancake house restaurant chain that specializes in American breakfast foods, declared an “NFT” drop in a press release, garnering the attention of the NFT community.
However, the “NFT” cited in the press release’s title and the first line of text does not correspond to a non-fungible token at all.
The company also revealed the “tricky” NFT drop on Twitter. It tweeted, “As promised, we just dropped our #NFT: New French Toast. It’s thick, fluffy, and extremely fungible.” The tweet was accompanied by a video that is reminiscent of NFTs.
The company’s goal was to announce their new “New French Toast”. This suggests it sought to take advantage of the current NFT trend to grab attention and market its new menu offering in a clever, maybe deceptive manner.
NFTs are finding their way into numerous industries, and many businesses are adopting them in anticipation of future market potential. However, not all companies are ready yet.
Despite the future’s unpredictability, the trend of NFTs continues to grow. It is proven by the filing of 6,366 NFT-related trademark applications in 2022 (until September 2022) compared to only 18 in 2020, representing a nearly 100% increase in two years.